The Real Deal Miami

MiMo tract sells for $1.2 million

A 14,975-square-foot vacant tract of land in Miami’s MiMo district has sold for $1.2 million, according to Chariff Realty. The property, which is located at 6405 Biscayne Boulevard, previously sold for $300,000 in May 2011. Chariff’s Lyle Chariff and Mauricio Zapata represented the buyer, while the seller was not represented. Chariff said the price broke a record for the area at $80 per square foot. Buyer AKORP Development plans to begin development on a 10,000-square-foot retail building on the site. — Alexander Britell